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Dec 22, 2012
12/12
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. >> wall street sent a message loud and clear there is a major stake in the washington deficit talks. dow jones fell sharply today. the economists believe if we go over the fiscal cliff, it could trigger a reseegs still looking for holiday gifts in an affordable price? >> coming up next, some advice on price matching. >>> it's just one more weekend of shopping left. michael finney thought you might like to know how to find the best deals. >> dig box stores competing for the same customers with the same merchandise and they know they need to offer competitive prices in order to get your business. >> online a mobile shopping makes it easier for people to make sure they're getting the best deal. so retailers offering some policies this season. >> this is a great tool for price comparing. >> if it's a major purchase and expensive, tax adds up. so... i check just before to make sure i'm not getting ripped off. >> for the first time, many retailers launched price matching programs online and in their store autos if retailers don't do this, they're just not going to be able to compete. so i
. >> wall street sent a message loud and clear there is a major stake in the washington deficit talks. dow jones fell sharply today. the economists believe if we go over the fiscal cliff, it could trigger a reseegs still looking for holiday gifts in an affordable price? >> coming up next, some advice on price matching. >>> it's just one more weekend of shopping left. michael finney thought you might like to know how to find the best deals. >> dig box stores competing...
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Dec 30, 2012
12/12
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CNNW
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separately is how do we bring down our deficit? do we attack social security entitlements, medicare, medicaid and that's this ideological struggle we're seeing between democrats and republicans that will continue in a series of skirmishes probably over the debt ceiling come february and ongoing until they finally have it out and resolve this for the long term. >> i think the white house's view in political terms is that how he handles himself on this sets the terms of engagement for those subsequent fights. again, a few weeks ago, when i was talking to people at the white house about how they were going to strategize this, they said look, this is a re-set moment and we've got to re-set sort of the balance of power from the 2011 talks. >> i think it's worth emphasizing on the numbers you mentioned the public overwhelming supports raises faxes on the wealthy but on the spending cuts they oppose cutting those programs in large numbers. when you get specific about that, don't cut that, don't cut that. >> hands off medicare. >> the pres
separately is how do we bring down our deficit? do we attack social security entitlements, medicare, medicaid and that's this ideological struggle we're seeing between democrats and republicans that will continue in a series of skirmishes probably over the debt ceiling come february and ongoing until they finally have it out and resolve this for the long term. >> i think the white house's view in political terms is that how he handles himself on this sets the terms of engagement for those...
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Dec 29, 2012
12/12
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KQED
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there isn't a structural deficit anymore. there's $1.9 billion -- >> yeah. >> but that is small. it was $25 billion just a couple years ago. this problem is a good part of the way toward being solved, and i think if people would have -- i don't think people even still completely understand that. and to me, the big question is, are the democrats, now that they have two-thirds majorities in each house, are they going to blow it up again and create new deficits like when gray davis was in charge, by rewarding in spending and locking in unions and things like that. >> and i think the democrats do have the supermajority in both the state senate and the state assembly, but a lot of the new freshmen coming in are from more centrist districts. they won by small margins, and i don't think it's a foregone conclusion that they're going to be steam-rollering with big government. voters also passed prop 39, which closed a corporate tax option of -- some would call it a loophole to pay a lower tax. that brings another $1 billion into the state budget. and for -- >> some of that's earmarked, th
there isn't a structural deficit anymore. there's $1.9 billion -- >> yeah. >> but that is small. it was $25 billion just a couple years ago. this problem is a good part of the way toward being solved, and i think if people would have -- i don't think people even still completely understand that. and to me, the big question is, are the democrats, now that they have two-thirds majorities in each house, are they going to blow it up again and create new deficits like when gray davis was...
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Dec 28, 2012
12/12
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the problem with the fiscal cliff is it would put in place deficit reduction, but it would put in deficit reduction too much, too quickly, and with the wrong parts of the budget. so it would let all of the tax cuts expire, it would let many things like the alternative minimum tax hit the middle class. it would have a big, broad-based sequester that goes into place, not gradually, like we would want, to help not derail an economic recovery, but abruptly, and it deals with the wrong parts of the budget. so what you want to do is replace this big amount deficit reduction, all hitting just at the time when the economic recovery is starting to take hold, with a more thoughtful plan that's phased in gradually. so it doesn't do too much deficit reduction up-front, but it puts in the necessary changes to health care cost, retirement, tax reform, all over time and puts us on a sustainable path to a better place. >> let me ask you a central question. is america different from europe? can america continue to run huge budget deficits, because the feds can buy treasuries and prop up the market, and be
the problem with the fiscal cliff is it would put in place deficit reduction, but it would put in deficit reduction too much, too quickly, and with the wrong parts of the budget. so it would let all of the tax cuts expire, it would let many things like the alternative minimum tax hit the middle class. it would have a big, broad-based sequester that goes into place, not gradually, like we would want, to help not derail an economic recovery, but abruptly, and it deals with the wrong parts of the...
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Dec 30, 2012
12/12
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this is a good deficit -- solid deficit reduction proposal. my great fear is they will make a deal and simply kick the can down the road and i think that may happen. it would be too bad. the right deal is to really take a big bite out of the deficit. you go back to the clinton tax rates and make some significant cuts and you cut the defense department, which hasn't been cut in 30 years. >> maggie, looks like we will get exactly what the governor just -- i mean assuming they get -- and what was your take listening to schumer and kyl? >> my take was there has not been that much progress. my take on labrador -- >> they sounded so optimistic. because that's where the deal >> well, they did. they both did because that's where the deal is being discussed in the senate. with the discussion with the house members that i found much more contentious and sort of interesting about where we are and that i think is of real concern. i do think that some senate democrats and some liberal members of the house would like to see the cliff gone over. they think t
this is a good deficit -- solid deficit reduction proposal. my great fear is they will make a deal and simply kick the can down the road and i think that may happen. it would be too bad. the right deal is to really take a big bite out of the deficit. you go back to the clinton tax rates and make some significant cuts and you cut the defense department, which hasn't been cut in 30 years. >> maggie, looks like we will get exactly what the governor just -- i mean assuming they get -- and...
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Dec 30, 2012
12/12
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the overall fiscal pressures are going to push us that way because of the deficit issue. and the one thing i would like to add is, these choices of what systems to cut or what forces to cut would be far less difficult if we could make the defense department more efficient. and we identify in the study some $900 billion in potential savings just through greater efficiency, particularly in the way we utilize manpower. so if we could pocket that, then we wouldn't to have cut our combat forces as much. >> but let me ask you something that i've asked almost everybody in the administration. the administration is banking on huge savings from better buying power, reorganizing processes and becoming more efficient, but the trouble is what happens if the savings don't materialize? where are we going to get savings in that case? >> well, the hope is that the fiscal -- because of the fiscal pressures, the services and the congress will be more cooperative in actually implementing these savings. these efficiencies are not made up by academics like myself. these were recommended by off
the overall fiscal pressures are going to push us that way because of the deficit issue. and the one thing i would like to add is, these choices of what systems to cut or what forces to cut would be far less difficult if we could make the defense department more efficient. and we identify in the study some $900 billion in potential savings just through greater efficiency, particularly in the way we utilize manpower. so if we could pocket that, then we wouldn't to have cut our combat forces as...
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Dec 22, 2012
12/12
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unemployment insurance for 2 million americans and lays the groundwork for further work on both growth and deficit reduction. that's an achievable goal. that can get done in ten days. >> you know, president obama today could have come out, and he could have just punched boehner right in the nose. he could have come out and kicked the guy today when he was politically down. but the president came out today with a demeanor of, hey, let's do a deal. it was a rough night at the office, but let's not give up on this. president obama has gone back to the basics. the days of the grand bargain he knows are over. but the president wants an extension on tax cuts for income below $250,000, as well as extended unemployment benefits. what's wrong with that? spending cuts can be dealt with later on in the future. and, of course, as luck would have it, there is already a bill exactly like this sitting in the united states senate. harry reid passed it back in july, and republicans refused to vote on it. boehner, why don't you vote on that? the time for complaining about this deal, totally over. >> nobody can get
unemployment insurance for 2 million americans and lays the groundwork for further work on both growth and deficit reduction. that's an achievable goal. that can get done in ten days. >> you know, president obama today could have come out, and he could have just punched boehner right in the nose. he could have come out and kicked the guy today when he was politically down. but the president came out today with a demeanor of, hey, let's do a deal. it was a rough night at the office, but...
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Dec 22, 2012
12/12
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spending, you know, let's get the deficit down, in other words, the gop has opportunities. it is the same old democratic party, katie, i don't see why the gop can't come back with the pro growth fiscally responsible message. >> i hate to break it to you, but republicans have been doing that for two years now. paul ryan has been beating the drum of entitlement reform for a long time. he's been demonized, and they've been running ads of him throwing grandma off the cliff. >> when's ryan making his comeback? when does marco rubio make his comeback? when do all of these fine governors make their comeback? i mean the republicans have a pretty deep bench. >> part of the calculation that i think conservatives and republicans are missing is that in this conversation, when we talk about a balanced approach, most -- a majority of middle class people, which is why 76% of americans are for taxing the rich, most americans have seen their defined benefits go down, their pensions decrease. so from their perspective and their wages have been stagnant at the same time -- hold on. >> whose f
spending, you know, let's get the deficit down, in other words, the gop has opportunities. it is the same old democratic party, katie, i don't see why the gop can't come back with the pro growth fiscally responsible message. >> i hate to break it to you, but republicans have been doing that for two years now. paul ryan has been beating the drum of entitlement reform for a long time. he's been demonized, and they've been running ads of him throwing grandma off the cliff. >> when's...
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Dec 26, 2012
12/12
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if we're going to have a good solution that gets at our deficit and reduce our debt everything has to be on the table and we'll deal with it. it's great to have rules. we just like to know what they are so we can make the right investments moving forward. >> even if it puts us in a climate of slow growth, even more slow growth than the economy which would be the kind of a climate where you as a ceo wouldn't want to invest in that anyway, you know what i mean? >> so i think a grand bargain won't create a slow economy. i think it will restore confidence and we'll all invest. we'll know what the rules are and the game plan is. weied be ready to move ahead. we have opportunities to grow all the way around the world. we need to know where to put our capital investment. if we know what the rules are, we'll invest. 60% to 65% of our costs are people and we put people back to work every day. >> you don't expect a grand bargain? >> no. >> meaning? >> a short-term fix and perhaps a recession. they talk about this bungee approach and i don't think that's helpful. let's take it away from american
if we're going to have a good solution that gets at our deficit and reduce our debt everything has to be on the table and we'll deal with it. it's great to have rules. we just like to know what they are so we can make the right investments moving forward. >> even if it puts us in a climate of slow growth, even more slow growth than the economy which would be the kind of a climate where you as a ceo wouldn't want to invest in that anyway, you know what i mean? >> so i think a grand...
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Dec 27, 2012
12/12
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too much deficit reduction, too quickly, and we could push the economy into a recession. that's just dumb. >> it is very dumb. now, you've been in many, many, many of these negotiations? you've been in the backrooms of a lot of the ongoing negotiations, now, do you think they have any chance of getting a deal before the first of the year? >> i'm always hopeful, but i'm less hopeful as every day passes. the problem is the rhetoric that's flying back and forth between republicans and democrats sounds like we're still having an election that it never was over. i think that now -- now that we've had an election, and the american public has spoken, whatever they meant, it's time for the politicians to get together, come together as starbucks is saying, and get something done. nobody's going to get everything they want. but it's so much more important to solve the problem than for one side or the other to get what they want or blame the other. the atmosphere is just wrong. >> when you hear the argument for going over the cliff. when it's been told to me by both democrats and re
too much deficit reduction, too quickly, and we could push the economy into a recession. that's just dumb. >> it is very dumb. now, you've been in many, many, many of these negotiations? you've been in the backrooms of a lot of the ongoing negotiations, now, do you think they have any chance of getting a deal before the first of the year? >> i'm always hopeful, but i'm less hopeful as every day passes. the problem is the rhetoric that's flying back and forth between republicans and...
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Dec 22, 2012
12/12
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and i think that's a big problem when you have a $1.1 trillion deficit. the only thing this debate has really been about for the last five weeks has been about tax increases. you're right. the republicans are playing a pretty weak end. as you both know, if nothing happens, then all the taxes go up. part of me says look, the republicans have to get this behind them. go into 2013 where they'll have a stronger hand. on things like the debt ceiling, what do we do to bring down the rest of the trillion deficit. but right now they're stymied. but i do think that by january 1st, they will have a deal in hand. i still think so. >> joy reid, have those conservative republicans, who wouldn't go along with speaker boehner's plan b last night actually strengthen president obama's hand? because as between the two men, speaker boehner and president obama, one clearly now has the upper hand in terms of leverage and negotiation. >> yeah, completely. and president obama went into this with all of the leverage. and now he's just gotten more. look, at the end of the day, th
and i think that's a big problem when you have a $1.1 trillion deficit. the only thing this debate has really been about for the last five weeks has been about tax increases. you're right. the republicans are playing a pretty weak end. as you both know, if nothing happens, then all the taxes go up. part of me says look, the republicans have to get this behind them. go into 2013 where they'll have a stronger hand. on things like the debt ceiling, what do we do to bring down the rest of the...
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Dec 29, 2012
12/12
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unemployment insurance is available for 2 million people, and it lays the groundwork for additional deficit reduction and economic growth steps that we can take in the new year. let us not miss this deadline. that is the bare minimum we should be able to get done. it should not be hard since democrats and republicans say they do not want to see taxes go up on middle-class families. i have to repeat -- outside of washington, nobody understands how it is that this seems to be a repeat pattern over and over again. ordinary folks -- they do their jobs. they meet deadlines. they sit down and they discuss things and then things happen. if there are disagreements, they sort through the disagreements. the notion that our elected leadership cannot do the same thing is mind-boggling to them. it needs to stop. i am modestly optimistic that an agreement can be achieved. nobody will get 100% of what they want. let us make sure that middle- class families and the american economy and the world economy are not adversely impacted because people cannot do their jobs. thank you very much, everybody. >> today
unemployment insurance is available for 2 million people, and it lays the groundwork for additional deficit reduction and economic growth steps that we can take in the new year. let us not miss this deadline. that is the bare minimum we should be able to get done. it should not be hard since democrats and republicans say they do not want to see taxes go up on middle-class families. i have to repeat -- outside of washington, nobody understands how it is that this seems to be a repeat pattern...
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Dec 28, 2012
12/12
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as a former governor, we don't operate with big deficits. you can't do that and we're in trouble in this country financially. the long term and in the short term, yes, we'll have a recession. it won't be a bad one but it will be one and nobody wants a recession. in the long term i think wall street goes crazy and you will see 15,000, 17,000 in the dow because finally somebody has done something serious about the deficit. i don't believe they will if they come to an agreement. >> you know, governor rendell, i want to know if you agree with governor dean. part of the message, one of the things that strikes me, the message for so long has been we can't go over the cliff, we can't go over the cliff. here are all the things that will happen to individual americans if we go over the cliff. there's a lot of anxiety out there. we've been hearing about that, we've seen the markets up and down. to some degree, i understand the political arguments but in terms of the argument of the stability of the country and our economy, do you agree with governor d
as a former governor, we don't operate with big deficits. you can't do that and we're in trouble in this country financially. the long term and in the short term, yes, we'll have a recession. it won't be a bad one but it will be one and nobody wants a recession. in the long term i think wall street goes crazy and you will see 15,000, 17,000 in the dow because finally somebody has done something serious about the deficit. i don't believe they will if they come to an agreement. >> you know,...
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Dec 26, 2012
12/12
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. >> catherine, isn't it their deficit in large part deficit? >> of course, but they have political amnesia. ideology is the science of idiots. here's one of these moments where when you live inside the box and refuse to look at empirical evidence, refuse to understand history to show us how economies work, how tax cuts or increases affect populations, then they are going to follow this line of idiocy over their own, i think, political cliff. and the partisanship is going to wreak tremendous havoc on the republican party in the upcoming elections. >> we have limited time. i want to go back to john harwood. is there a time here, john, when we're going to see the markets start to react or are we expecting most traders to wait until after the first to make big decisions? >> i think that's when they reacted. if we go over the cliff, even for a couple of days, you're going to see a reaction. i think at the end of the day you will see action if we go over the cliff for a couple of days, because i don't agree with jonathan that they are immune to publi
. >> catherine, isn't it their deficit in large part deficit? >> of course, but they have political amnesia. ideology is the science of idiots. here's one of these moments where when you live inside the box and refuse to look at empirical evidence, refuse to understand history to show us how economies work, how tax cuts or increases affect populations, then they are going to follow this line of idiocy over their own, i think, political cliff. and the partisanship is going to wreak...
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Dec 28, 2012
12/12
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what do you do about deficits? the truth is doing nothing at this point is the best impact they can have on deficits, because taxes will go up, spending will go down. that's the point of this deal. so to come to your point, yeah, i guess they could suddenly hug each other and do had this dance, but the reality is there are a lot of people who think, what we are dealing with is deficits because the budget looks better and we'll deal with the economy some other way. >> doing nothing is what they do best. mike, before we let you go, ed mackey malden running for the united states senate in massachusetts. >> he's never run statewide. do you agree with this? i think scott brown is smiling this morning? i think a race against ed markey well-known in washington, respected here and has taken strong positions on climate change and other issues. he's not a household name in massachusetts. scott brown is. there's a totally different electorate in this special election. scott brown likes this match upup. mike, would you call hi
what do you do about deficits? the truth is doing nothing at this point is the best impact they can have on deficits, because taxes will go up, spending will go down. that's the point of this deal. so to come to your point, yeah, i guess they could suddenly hug each other and do had this dance, but the reality is there are a lot of people who think, what we are dealing with is deficits because the budget looks better and we'll deal with the economy some other way. >> doing nothing is what...
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Dec 28, 2012
12/12
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. >> an old man who is in debt and deficits. >> he's going to do the hammer dance? >> he's one of these great public servant who will say or do whatever it takes to get people's attention on issues that really matter. and this group that sponsored it is the can kicks back. it's not 200 million views. >> i wish we could see al franken dancing in a unitard to fight wviolence against women. >> make the cut. >> who picked the list? >> we all did it. >> up next, a rust belt bright spot in 2013. we're going to take you there, next. and would always be there with the biggest welcome home. for a love this strong, dawn only feeds him iams. compared to other leading brands, it has 50% more animal protein. ...to help keep rocky's body as strong as a love that never fades... if he ever lets her leave again. iams. keep love strong. [ sniffs ] i took dayquil but my nose is still runny. [ male announcer ] truth is, dayquil doesn't treat that. really? [ male announcer ] alka-seltzer plus fights your worst cold symptoms, plus it relieves your runny nose. [ breathes deeply ] awesome.
. >> an old man who is in debt and deficits. >> he's going to do the hammer dance? >> he's one of these great public servant who will say or do whatever it takes to get people's attention on issues that really matter. and this group that sponsored it is the can kicks back. it's not 200 million views. >> i wish we could see al franken dancing in a unitard to fight wviolence against women. >> make the cut. >> who picked the list? >> we all did it....
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Dec 28, 2012
12/12
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lays the groundwork for work on growth and deficit reduction. that is an achievable goal. >> today's meeting is the first with the president since november 16. sign for republicans that mr. obama has not really been pushing that hard for a deal. >> we need presidential leadership on in the just taxing rich people. >> three words the president did not use. he did not use the word sequester and he didn't say "debt ceiling" either. he focused most of his remarx on preventing taxes from going up. there are also massive spending cuts coming. no idea how they will avert that. he also did not mention the debt ceiling. earlier they wanted lifting the debt ceiling included. now it's clear it's not in the short-term package that guarantees if they get a short-term deal here, we have major budget battles coming. >> the key to any good negotiation each side has to give up something. near and dear to their heart. what is it, as succinctly as you imagine, both sides have given up? >> both sides say the president started on threshold of tax cut of $250,000. ne
lays the groundwork for work on growth and deficit reduction. that is an achievable goal. >> today's meeting is the first with the president since november 16. sign for republicans that mr. obama has not really been pushing that hard for a deal. >> we need presidential leadership on in the just taxing rich people. >> three words the president did not use. he did not use the word sequester and he didn't say "debt ceiling" either. he focused most of his remarx on...
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Dec 23, 2012
12/12
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CSPAN2
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he was a deficit hawk, boy, we could use him today, who controlled government spending and taxes. the famous speech warning against the industrial complex was at the end of the presidency, but worked on it all along behind the scenes. heaven help us he liked to say when we get a president who knows less about the military than i do. it was not about the economy or saving money. in the berlin crisis and earlier crisis with korea and vietnam in 1953 over the strait in 1954-55 and 1958 in the suez crisis in 1956, he was planning a bigger gain for higher stakes. west point cadet and young army officer, ike was a great poker player, and, indeed, so good, he had to give it up. he was taking too much money from the fellow officers hurting his career. he switched to bridge, but he never forgot how to bluff. the soviets, he bluffed with nuclear weapons. as only a real warrior can, ike hated war. curiously, the great war hero was never in combat. in world war i, he was training troops to his great chagrin, and world war ii, he was too valuable and knew too much to risk getting captured or k
he was a deficit hawk, boy, we could use him today, who controlled government spending and taxes. the famous speech warning against the industrial complex was at the end of the presidency, but worked on it all along behind the scenes. heaven help us he liked to say when we get a president who knows less about the military than i do. it was not about the economy or saving money. in the berlin crisis and earlier crisis with korea and vietnam in 1953 over the strait in 1954-55 and 1958 in the suez...
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Dec 27, 2012
12/12
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so all of this takes place against a debate about how to reduce the budget deficit. that's why you get into this theater of the absurd. >> well, and look at the tape you showed at the opening of the program with keith boykin over and over again showing the dysfunction of congress. they made this so onerous with the belief it would make them do something less onerous and now they're right up against it. >> they really know how to make these crises happen. political correspondent and writer, john howard, thank you very much for joining me and former labor secretary robert reich, thank you for joining me tonight. >>> coming up, the nra has done much more damage than you think. and they've made gun ownership much harder to trace. >>> and the romneys keep trying new explanations for why mitt lost. but they aren't getting any closer to the truth. and as some of you on twitter already know, i am wearing a christmas gift or two on the show tonight. there is still time to tweet your guesses about what it is. the answer to what christmas gift or gifts am i wearing is coming up
so all of this takes place against a debate about how to reduce the budget deficit. that's why you get into this theater of the absurd. >> well, and look at the tape you showed at the opening of the program with keith boykin over and over again showing the dysfunction of congress. they made this so onerous with the belief it would make them do something less onerous and now they're right up against it. >> they really know how to make these crises happen. political correspondent and...
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Dec 26, 2012
12/12
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that would cut the deficit in half. that would affect the ability to finance this larger government than he has created. so that would be consistent with his vision. then we would have a cry for tax reform act of top rates on the wealthy would be too high if you are running a small business. so they would eliminate some deductions. the tax burden overall would be about the same. and the deficit if with starts to wind down. the problem is president obama has also presided over a french- style growth rates of 2% per year. is not the worst of jamee have been been in the post world war era. -- this is not the worst jam. reagan had the economy growing at 6%. whereas mr. obama, to%. the downside has been the notion of accepting a much slower broken. longer-term, the pyramid of our society is getting more like a column, because we're having more and more older people -- people are living older and we can raise the retirement age. even with that we will have a larger elderly population to take care of. 2% growth becomes very di
that would cut the deficit in half. that would affect the ability to finance this larger government than he has created. so that would be consistent with his vision. then we would have a cry for tax reform act of top rates on the wealthy would be too high if you are running a small business. so they would eliminate some deductions. the tax burden overall would be about the same. and the deficit if with starts to wind down. the problem is president obama has also presided over a french- style...
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Dec 29, 2012
12/12
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we talked about simpson-bowles, deficit reduction, and affordable care act. >> with no explanation of what they were for the average person. >> it was sort of the inside the beltway debate, and you get one positive debate for the entire fall campaign. you open things up to new voices to broader perspectives. i don't mean to pick on jim lehrer too much, but really, enough of it. >> chris, the worst move? >> the worst move, the decision by both the obama campaign and the not so surprising decision on never raising climate change for the first time. since 1988, if you go back to the tape when lloyd benson, they both said yeah, that will be a problem, we should do something about it. here we are, 24 years later and it doesn't even get a mention in any of the debates. >> i have another video assist, the worst move, the worst decision of the campaign was to do what you're about to see. at the republican convention. >> oh. >> i just wondered -- all of these promises, and then i wondered about -- you know, when -- the -- what do you want me to tell romney? i can't tell him to do that. can't d
we talked about simpson-bowles, deficit reduction, and affordable care act. >> with no explanation of what they were for the average person. >> it was sort of the inside the beltway debate, and you get one positive debate for the entire fall campaign. you open things up to new voices to broader perspectives. i don't mean to pick on jim lehrer too much, but really, enough of it. >> chris, the worst move? >> the worst move, the decision by both the obama campaign and the...
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Dec 29, 2012
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all of that was ignored, we talked about simpson bowles, the deficit reduction and affordable care act. >> with no explanation of what they were for the average person. >> it was sort of the inside the beltway debate, and you get one positive debate for the entire fall campaign. you open things up to new voices and fresh perspectives, to broader perspectives. i don't mean to pick on jim lehrer too much, but really, enough of it. >> chris, the worst move? >> the worst move, the decision by both the obama campaign and the not so surprising decision by romney and debate moderators to never raise climate change for the first time since 1988. if you go back to to the tape when lloyd benson and dan quayle were asked about it, they both said, yeah, that will be a problem, we should do something about it. here we are, 24 years later and it doesn't even get a mention in any of the debates. >> i have another video assist, the worst move, the worst decision of the campaign was to do what you're about to see at the republican convention. >> oh. >> i just wondered -- all of these promises, and then
all of that was ignored, we talked about simpson bowles, the deficit reduction and affordable care act. >> with no explanation of what they were for the average person. >> it was sort of the inside the beltway debate, and you get one positive debate for the entire fall campaign. you open things up to new voices and fresh perspectives, to broader perspectives. i don't mean to pick on jim lehrer too much, but really, enough of it. >> chris, the worst move? >> the worst...
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Dec 30, 2012
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reduce the deficit by 10 or 12%. so it's a question at this point of what sort of hollow, empty meaningless symbolic gesture daus washington want to make and how many group of people do they want on the altar to make that gesture. >> what's so interesting here is that we're talking about the republicans fighting to protect 1.2% of the american public from a tax increase. 98.2% of taxpayers are below the $250,000 threshold so it's kind of amazing in congress, particularly when we're talking about the house, that he's made a pledge around tacks that its willing to allow 98.2% of americans to pay more by going over -- around this curve, it's more of a curve than a cliff. but i think the issue of the deficit is important. i don't think it's a symbolic gesture. one of the things that we've seen is $200 million we've started carving off the deficit. and the question is the time frame of deficit reduction, right? it's how fast, over what time trajectory do we see health? we've been making improvements over the past three ye
reduce the deficit by 10 or 12%. so it's a question at this point of what sort of hollow, empty meaningless symbolic gesture daus washington want to make and how many group of people do they want on the altar to make that gesture. >> what's so interesting here is that we're talking about the republicans fighting to protect 1.2% of the american public from a tax increase. 98.2% of taxpayers are below the $250,000 threshold so it's kind of amazing in congress, particularly when we're...
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Dec 22, 2012
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for the last few weeks, i have been working with the leaders of both parties on a proposal to get our deficit under control, to avoid tax cuts -- to avoid tax hikes on the middle-class. and to make sure we can spur jobs and economic growth. a balanced proposal that cuts spending, but also ask the wealthiest americans to pay more, a proposal that will strengthen the middle class over the long haul, and our economy over the long haul. in the course of these negotiations, i offered to compromise with republicans in congress. i met them halfway on taxes and more than halfway on spending. today, i am still willing to get a comprehensive package done. i still believe that reducing our deficit is the right thing to do for the long-term health of our economy and the confidence of our businesses. i remain committed to working towards that goal, whether it happens all at once, or whether it happens in several different steps. but in 10 days, we face a deadline. in 10 days, under current law, tax rates are scheduled to rise on most americans. and even though democrats and republicans are arguing about w
for the last few weeks, i have been working with the leaders of both parties on a proposal to get our deficit under control, to avoid tax cuts -- to avoid tax hikes on the middle-class. and to make sure we can spur jobs and economic growth. a balanced proposal that cuts spending, but also ask the wealthiest americans to pay more, a proposal that will strengthen the middle class over the long haul, and our economy over the long haul. in the course of these negotiations, i offered to compromise...
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Dec 30, 2012
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they want them to carry the burden of reducing the deficit and refuse to ask higher income individuals to pitch in to fully share responsibility. and that is exactly what is happening. it is important to know that republicans are now demanding that the wealthiest of the very wealthiest estates in this country get a sweetheart deal on estate taxes which would help 7,200 families in the country next year get an average tax break of $1.2 million. and they are holding up tax relief for everybody else in the country in order to get this demand met for the very wealthiest estates. this isn't even the top 1%. this is a fraction of 1%. while they want to give those folks a big break they want folks on social security to pay more. and so this is a major setback. it is interesting to hear mitch mcconnell talking about his good faith efforts. he knows that he just threw a monkey wrench into the negotiations y. think he is also doing it to protect speaker boehner and the republicans and the house because he doesn't want to send them a deal that he knows they are going to vote down. >> let's talk a
they want them to carry the burden of reducing the deficit and refuse to ask higher income individuals to pitch in to fully share responsibility. and that is exactly what is happening. it is important to know that republicans are now demanding that the wealthiest of the very wealthiest estates in this country get a sweetheart deal on estate taxes which would help 7,200 families in the country next year get an average tax break of $1.2 million. and they are holding up tax relief for everybody...
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Dec 28, 2012
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federal pension fund is running dry, they posted a $34 billion deficit just for this year. and there is new worries it could o belly up. that is on top of the fha, federal housing agency, saying it is $16 billion in the red, if they get tapped out, and need a bailout, get ready to shell out. jonathan is all fed up. most people don't know about it i don't think it is a question of if, i think but when they need a bailout. >> if you look at the statistics, the economics, it is likely they will need taxpayer assistance, this is a branch of government, a part of government lost a billion dollars in 2012, it is only 70% funded, it is cash flow negative, an and $34 billion deficit, and 300 300 million of exposure to risky mentioned that will likely have to assume. just like the savings lone insurance scheme a few decade ago, it is my opinion they will need a taxpayer bailout. tom: it is a mouthful pbgc, pension benefit -- corporation, most don't know about it unless are a united airline pilot or delta or bethlehem steel, there are hundreds of plans they took over. but the pilots
federal pension fund is running dry, they posted a $34 billion deficit just for this year. and there is new worries it could o belly up. that is on top of the fha, federal housing agency, saying it is $16 billion in the red, if they get tapped out, and need a bailout, get ready to shell out. jonathan is all fed up. most people don't know about it i don't think it is a question of if, i think but when they need a bailout. >> if you look at the statistics, the economics, it is likely they...
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Dec 27, 2012
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amazon is fighting many deficit fronts, fighting google, netflix, fighting apple. when eventually everything comes home to roost, amazon will have their rollover period. when it gets down to the 218 range, we welcome take some off but i think it will go over and crack the $200 level. >> you wont to go an that one? >> no. i think it could have trouble going forward and perhaps that outage on christmas eve on netflix showed the kink in the armor on their web services. >>> wrapping to the highest level in 21 months, the yen hits mult multilevel lows versus the u.s. dollar. let's bring in kathy. great to have you. nice to see you. >> great to be on. >> certainly is a popular trade these days. is it too crowded and likely tie soon? >> there's your question. well, basically the yen trade is the trade of the year that everyone was calling for in 2013. we've already seen a huge move. so i think that, you know, there's a lot of people who have ran into the trade over the past month. i think that, you know, while there's still fundamental reasons for the dollar yen to move h
amazon is fighting many deficit fronts, fighting google, netflix, fighting apple. when eventually everything comes home to roost, amazon will have their rollover period. when it gets down to the 218 range, we welcome take some off but i think it will go over and crack the $200 level. >> you wont to go an that one? >> no. i think it could have trouble going forward and perhaps that outage on christmas eve on netflix showed the kink in the armor on their web services. >>>...
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Dec 28, 2012
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anyone who travels around this country knows we have a public goods deficit. it's something we'd love to see more in helping to boost the underlying productivity of the economy. and implementation. this doesn't get enough discussion. the affordable care act and dodd-frank first term agenda items are not yet implemented and there's going to be a lot of that in term two. other than that i see probably tax and entitlement reform. and don't forget guns. guns are -- >> tax and entitlement reform. when does that happen. how does it happen? we're assuming a baby deal, so i assume that that doesn't happen in that context. are you talking about a grand bargain? >> right. i am. and i'm saying that these guys actually got pretty far towards some kind of a bargain that involved cutting some entitlement growth, restructuring the tax code in ways that i think are pretty good. >> when would this happen in your perfect world? >> i think this would start to happen, not too long after we resolve the cliff. so, probably late february, march it would begin. but it's going to take
anyone who travels around this country knows we have a public goods deficit. it's something we'd love to see more in helping to boost the underlying productivity of the economy. and implementation. this doesn't get enough discussion. the affordable care act and dodd-frank first term agenda items are not yet implemented and there's going to be a lot of that in term two. other than that i see probably tax and entitlement reform. and don't forget guns. guns are -- >> tax and entitlement...
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Dec 26, 2012
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christmas should be a day of joy and celebration and recent tragic events gave this year's holiday a deficit feeling. >> reporter: in newtown, connecticut, it was a day of lingering heartache. empty stockings hung as reminders of loss filled with gifts and police helps for time with their families. >> glad we can do it. >> a pleasure to help them out. >> police officers giving police officers time off, you couldn't ask for a better christmas gift. >> reporter: in the new york area, still without homes because of hurricane sandy, volunteers tried to deliver holiday spirit, handing out food, toys and blankets at relief centers. >> people came out to help people. you can't put a price on that or buy that either. >> reporter: in places spared direct tragedy americans marked it with their own ways keeping those less fortunate in their thoughts. >> when people are suffering and going through hardship, many, many people come to offer their help in whatever they can do. >> reporter: across the nation, americans attended church services and spent time with family and friends. at the mitchell home out
christmas should be a day of joy and celebration and recent tragic events gave this year's holiday a deficit feeling. >> reporter: in newtown, connecticut, it was a day of lingering heartache. empty stockings hung as reminders of loss filled with gifts and police helps for time with their families. >> glad we can do it. >> a pleasure to help them out. >> police officers giving police officers time off, you couldn't ask for a better christmas gift. >> reporter: in...
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Dec 30, 2012
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goes to the deficit in reality. it seems to me that that number comes up and is a political situation and what congress is really saying is that i am going to pander to the 98% because if i go to 125%, i will upset more of the electorate. i was listening to david brooks this morning and his comments that the real dysfunctional people are not necessarily congress, but the american people who are prepared to pass these deficits on to our grandchildren. >> have you looked at how any tax increases might affect you? had you planned for that at all? caller: i am comfortable enough, i am planned -- and i plan to give more. i would hope that most people in my financial situation would be prepared to do that. >> the democratic line is next, california. donna, hello. caller: i would like to state -- i think that one of our biggest problems is that the republican party has sold us out to grovers inquest. i think that everyone who took that pledge should be fired from the congress. they took an oath of office first. they have g
goes to the deficit in reality. it seems to me that that number comes up and is a political situation and what congress is really saying is that i am going to pander to the 98% because if i go to 125%, i will upset more of the electorate. i was listening to david brooks this morning and his comments that the real dysfunctional people are not necessarily congress, but the american people who are prepared to pass these deficits on to our grandchildren. >> have you looked at how any tax...
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are you going to pay down the deficit? if you are going to use it for more government spending we don't want a part of it. senator mcconnell on the republican side seemed to get frustrated because he felt like the democrats were slow walking the th, 18 hours without a response. mcconnell made a call to a well known senator, joe biden to see if he could help. >> we're willing to work with whoever can help. no single issue remains an impossible sticking point. a sticking point appears to be a willingness and interest or frankly the courage to close the deal. >> reporter: as senate aide says it was designed to try to jumpstart the talks and consequences of getting a tax increase is a huge concern. >> gregg: what went awry in these talks? >> you heard senator thune. a fiscal cliff deal is a new way calculating inflation that would lower social security payments. democrats say they would do it as part of much bigger deal but it was off the table for the smaller deal they are working on. so democrats called it a poison pill. >>
are you going to pay down the deficit? if you are going to use it for more government spending we don't want a part of it. senator mcconnell on the republican side seemed to get frustrated because he felt like the democrats were slow walking the th, 18 hours without a response. mcconnell made a call to a well known senator, joe biden to see if he could help. >> we're willing to work with whoever can help. no single issue remains an impossible sticking point. a sticking point appears to be...
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Dec 22, 2012
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obama and john boehner were getting close to some sort of a deal, a deal that would have dealt with deficit reduction as well as tax reform, but that all fell apart and now there's a big question mark about how they move forward and the president himself acknowledging when he addressed the nation on friday that given the tight timeframe, hopes for a larger deal have all, but faded and he's calling on congress to work together to just get a deal that would have at the very least extend lower tax rates for those making $250,000 or less and also to extend unemployment insurance and to help lay the groundwork for deficit reduction in the future. right now the expectations have been lowered a great deal in terms of what is actually possible and you heard the president say that he is still optimistic that something can get done before the january 1st deadline and of course, there's a lot of pressure for these lawmakers to get something done because if they don't the economy could go back into a recession eventa you willy. >> kristen well wiker with the president in hawaii. >>> joining me now from
obama and john boehner were getting close to some sort of a deal, a deal that would have dealt with deficit reduction as well as tax reform, but that all fell apart and now there's a big question mark about how they move forward and the president himself acknowledging when he addressed the nation on friday that given the tight timeframe, hopes for a larger deal have all, but faded and he's calling on congress to work together to just get a deal that would have at the very least extend lower tax...
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Dec 26, 2012
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it will add to what is already shaping up as a large production deficit. it's interesting, because in the middle of the year, they were saying 2013 we were going to have a big production surplus. doesn't look like it's going to go that way. however, it would be a help. this is not another gold or silver from the standpoint of causing a super explosion, in my opinion. >> what about oil, gas, the other liquids? >> i don't like natural gas. natural gas has kind of been a favorite because its long term prospects are excellent. if you ask me two, three, five years from now, i would be very bullish. right now we have record supplies. weather doesn't look that great. at least for the first part of the year, i don't particularly like it. now, crude oil over supplied market, more than abundant supply but i'm bullish. there's too much going on geopolitically. if we do have even this modest improvement in global demand for industrial commodities we talked about in copper, we will see that translate. i would not be short crude. i would be looking to buy weakness in cr
it will add to what is already shaping up as a large production deficit. it's interesting, because in the middle of the year, they were saying 2013 we were going to have a big production surplus. doesn't look like it's going to go that way. however, it would be a help. this is not another gold or silver from the standpoint of causing a super explosion, in my opinion. >> what about oil, gas, the other liquids? >> i don't like natural gas. natural gas has kind of been a favorite...
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Dec 28, 2012
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and the way we avoid further debt and deficit is to cut spending. >> will we hear -- their -- come up with debt limitations again the boehner principle for every dollar the debt limit is raised we have a cut in spending. that seems to me that -- where there is a huge ideological divide between both parties, republicans say the problem is about spending and democrats say it is all about lack of revenue, how -- how does -- is that bridged in this year? can it be bridged? >> yes, it can. both president obama and speaker boehner have already begun to do a principle compromise. speaker boehner said i'm ready to raise taxes on those over a million dollars. president obama said i'm ready to have a new type of chain to consumer price index which -- impacts entitlement reform. the bipartisan national debt commission, simpson-bowles commission, said for every dollar of spending reduction, including the entitlement reform we immediate to have $1 in tax revenue. that's the principle compromise we have to have. so they are not far off. what we have to have is very simple. $4 trillion in debt reduc
and the way we avoid further debt and deficit is to cut spending. >> will we hear -- their -- come up with debt limitations again the boehner principle for every dollar the debt limit is raised we have a cut in spending. that seems to me that -- where there is a huge ideological divide between both parties, republicans say the problem is about spending and democrats say it is all about lack of revenue, how -- how does -- is that bridged in this year? can it be bridged? >> yes, it...
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Dec 27, 2012
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and so the deficit increased rather than declined. so it went from 220 billion in 1990 to 269 billion in 1991, 290 billion in 1992. i think that's directly relevant today because i think the obama tax increases are more likely to lose revenue rather than to gain revenue. for example -- >> clayton: we know what happened with president george h.w. bush, read my lips, no new tax and ended up going forward with some of those tax increases to part of the negotiation and democrats didn't come forward with entitlement cuts that were enough to actually counteract some of those tax increases. could we be seeing the exact same thing today? >> well, yes. for example, one big tax increase in the obama tax increase package is the capital gains tax rate is going to go up 58% on the higher income taxpayers. and so now in the last 50 years, every time the capital gains tax rate has been raised, capital gains revenues have declined rather than increased. and every time the capital gains tax rate has been cut, capital gains revenues increased rather th
and so the deficit increased rather than declined. so it went from 220 billion in 1990 to 269 billion in 1991, 290 billion in 1992. i think that's directly relevant today because i think the obama tax increases are more likely to lose revenue rather than to gain revenue. for example -- >> clayton: we know what happened with president george h.w. bush, read my lips, no new tax and ended up going forward with some of those tax increases to part of the negotiation and democrats didn't come...
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Dec 24, 2012
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protects insurance for 2 million americans and laze the groundwork for further work on both growth and deficit reduction. >> the president's -- it would hurt jobs. >> reporter: the partisan bickering has put the country on the brink of a potential economic crisis. some long-time lawmakers dismid- by the perpetual gridlock. >> the first time i feel it's more likely we will go over the cliff than not; and if we allow that to happen, it will be the most colossal consequential act of irresponsibility. >> reporter: president obama says he'll cut his vacation short to hammer out a deal with congress. the deadline now a week away. i'm andrew spencer reporting. >>> if congress face to reach the agreement income tax rates will go up on just about everyone on new year's day. unemployment benefits will expire for many as well. you may not feel the pinch right away. already too late for employers to accurately who would income taxes from those january paychecks. the social security payroll taxes are set to increase on january the 1st. you will see an immediate cut in your take-home pay. >>> the senator fr
protects insurance for 2 million americans and laze the groundwork for further work on both growth and deficit reduction. >> the president's -- it would hurt jobs. >> reporter: the partisan bickering has put the country on the brink of a potential economic crisis. some long-time lawmakers dismid- by the perpetual gridlock. >> the first time i feel it's more likely we will go over the cliff than not; and if we allow that to happen, it will be the most colossal consequential act...
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Dec 23, 2012
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it takes a huge bite out of the deficit, but on balance neither side wants to do that today, but, you know, for republicans i think that's a tougher world to swallow. many suggest if you go over the cliff, they come back and then have to agree to extend the tax rates for everybody below some number. # >> that debt deal turns out to be brilliant or something. >> what starts to matter at that point, the simpson-bowles commission, that president obama didn't want to appoint and didn't pay attention to, that's front and center. the blueprint for how we move on. these two guys took on a task that was a fool's errands we thought, what happens to the commissions, nothing. we go back to them. >> let's talk about the die nam mick between senator reid and mcconnell. ball is in your court. are these two capable of coming up with something that the senate could pass but more importantly the house could pass? >> they're going to have to try by new year's eve here. >> three days, four days. >> it's interesting senator reid said he would like governor neil abercrombie to appoint the replacement for
it takes a huge bite out of the deficit, but on balance neither side wants to do that today, but, you know, for republicans i think that's a tougher world to swallow. many suggest if you go over the cliff, they come back and then have to agree to extend the tax rates for everybody below some number. # >> that debt deal turns out to be brilliant or something. >> what starts to matter at that point, the simpson-bowles commission, that president obama didn't want to appoint and didn't...
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Dec 27, 2012
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direct limb reply indicated in the fiscal cliff talks but it is relevant to the larger issue of debt and deficits. the treasury can move money around in certain ways to extend the point where we actually reach a crisis for probably a couple of months. but this is an early warning sign. secondly, republicans in the house sent word to democrats in the senate, white house, it is your turn now. we acted to put off the fiscal cliff several months ago with a bill that without objection tend all of those bush tax rates into the future and would turn off the sequester by switching defense cuts over to domestic programs. democrats, of course have no intention of doing that. especially after president obama won the election. senate democratic leadership aide tells me that will remains a 50/50 chance we will get a mini deal temporary extension of tax cuts under $250,000 before the january 1 deadline when we would go over the cliff. will are no assurances of that. a white house official told me as president obama prepares to fly back to conduct and participate in the negotiations at the end, there has been n
direct limb reply indicated in the fiscal cliff talks but it is relevant to the larger issue of debt and deficits. the treasury can move money around in certain ways to extend the point where we actually reach a crisis for probably a couple of months. but this is an early warning sign. secondly, republicans in the house sent word to democrats in the senate, white house, it is your turn now. we acted to put off the fiscal cliff several months ago with a bill that without objection tend all of...
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Dec 28, 2012
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i'm shaving a little bit off of this year's deficit. we're going to have fiscal problems for as far as the eye can see, an here's where an investor, a smart investor is going to want to diversify, especially into things like tangible assets like gold. >> you're going to make the case for gold here, which, you know, has had a heck of a run for the last decade or so, but it has started to show signs of wear and tear. what would propel gold from here necessarily? >> well, two things that i would have your viewers take a look at. the first is the reason why gold has kind of flattened out at about 1650 or so is because a huge amount of supply has come on the market. there's a lot of profit-takers who are worried about increased taxes next year. as you said, they have made a lot of money on gold, so they are selling it right now and locking in those profits. the other thing to look at that very few investors have caught on to but when i was at the mint we studied this, gold demand and gold prices correlate very well with the national debt cei
i'm shaving a little bit off of this year's deficit. we're going to have fiscal problems for as far as the eye can see, an here's where an investor, a smart investor is going to want to diversify, especially into things like tangible assets like gold. >> you're going to make the case for gold here, which, you know, has had a heck of a run for the last decade or so, but it has started to show signs of wear and tear. what would propel gold from here necessarily? >> well, two things...
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Dec 23, 2012
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we don't have a short-term deficit problem. we have a jobs and growth problem and faltering recovery but we should put off the sequester, put off this grand bargain, come back, let the bush tax cuts expire, make sure the middle class -- >> off the cliff. >> the cliff is a manufactured media drama but the largest point is to say that the left are progressives supporting the great reforms of -- >> i would -- sflrs at a time when the richest are -- >> i would discount that maybe but on january 2nd when everyone's taxes go up, it may not feel manufactured but real. >> that's the point and this is what folks don't understand. where she's making a strong point is we're taking this, this incredible mallet and smash america and the people who will suffer are those in my community who want to go to college and lose avenues about how to do that, about the fbi agents cut that are protecting our borders and our nation from a challenge. people will be cut out on programs that support the poorest americans get access to healthy food and this
we don't have a short-term deficit problem. we have a jobs and growth problem and faltering recovery but we should put off the sequester, put off this grand bargain, come back, let the bush tax cuts expire, make sure the middle class -- >> off the cliff. >> the cliff is a manufactured media drama but the largest point is to say that the left are progressives supporting the great reforms of -- >> i would -- sflrs at a time when the richest are -- >> i would discount that...